By Muhammad Mamman
President Bola Tinubu has announced a major shift in Nigeria’s public finance management, declaring that the government will end the long-standing practice of running multiple overlapping budgets and move to a single, unified budget system from April 2026.
Speaking on fiscal reforms, the president said his administration was determined to restore order and credibility to budget execution, describing the current system as inefficient and unsustainable.
“We are terminating the habit of running three budgets in one inflow,” Tinubu said. “By March 31, 2026, all capital liabilities from previous years will be fully funded and closed. From April, Nigeria will operate on a single budget.”
Nigeria’s budgeting process has for years been marked by delayed approvals, carry-over projects and unpaid capital obligations, resulting in what economists often describe as overlapping budgets that blur fiscal planning and weaken accountability.
The president said clearing outstanding capital liabilities would allow the government to start each fiscal year with a clean slate, improving transparency and ensuring that approved projects are completed on schedule.
Economic analysts say the move, if implemented, could strengthen investor confidence and enhance fiscal discipline, but warn that it will require strong coordination among ministries, departments and agencies, as well as strict adherence to timelines.
Opposition figures and civil society groups have welcomed the announcement in principle, while calling for clearer details on how the government plans to fund and close existing obligations without increasing debt or crowding out essential spending.
Tinubu’s statement comes as Nigeria grapples with high inflation, revenue constraints and rising debt servicing costs, pressures that have intensified calls for tighter control of public finances.
The administration says the shift to a single budget is part of broader economic reforms aimed at improving efficiency, reducing waste and ensuring that public spending delivers tangible benefits to Nigerians.
